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Solutions for Personal Clients

Voluntary Disclosure Agreements

If you haven't filed your tax returns for a while, or filed returns in the past that were materially wrong, you could be facing significant penalties, and even criminal prosecution. The IRS has a program that's designed to allow you to get current with your tax filings while lowering the risk of penalties and criminal prosecution. 

A voluntary disclosure needs to be truthful and complete, and demonstrate your willingness to cooperate with the IRS.  You will also need make good faith arrangements to pay the IRS the tax, interest and penalties they assess. A key point to bear in mind is that you may not enter a voluntary disclosure if the IRS has already initiated an examination or has received information from someone else about your particular non-compliance.

States also run periodic voluntary disclosure programs that allow you to get current with your taxes, often with a waiver of penalties and reduced interest.

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